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Argyle reveals his plan to save the Wolfpack

The Toronto owners wants to raise just under £6m through fan shares. Toronto owner David Argyle wants to turn the club into “rugby’s Green Bay Packers” and raise $10m – around £5.86m – through the …

The Toronto owners wants to raise just under £6m through fan shares.

Toronto owner David Argyle wants to turn the club into “rugby’s Green Bay Packers” and raise $10m – around £5.86m – through the sale of shares to supporters.

Argyle told the Times Colonist’s Neil Davidson that the money generated will go to a “non-profit vehicle” in order to finance and safeguard the club’s future.

NFL team Green Bay are perhaps world sport’s most prominent and successful example of a ‘fan shares’ model in action.

And Argyle wants to replicate that by selling shares for $100.

The Australian also reaffirmed that the Wolfpack’s receipt of their share of TV money is key to the club’s future.

Argyle said “We are three and a half years in. We have built a platform.

“It has generated significant awareness in North America and around the world. And it’s too early to call an end to the project.

“Because if rugby is truly going to become a global sport, it has to crack the North American market, which is the most lucrative sports market in the world.”

He added: “You won’t need to ask your financial adviser because this is a gut-and-heart decision, not a head decision.

“So as a global community-owned team, an expanded Green Bay Packer model, your membership — reflected through a share — will assist.

“There are 800 million-plus rugby fans in the world.

“We have endeavoured, tried, made great strides to achieve the goal but there’s no more firepower in my corner to get us through this season let alone the following seasons. Which is my failure.”

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